ES still overbought
Updated
It got rid of the overbought condition on the initial dump and went right back.
Not chasing this market. Could dump again at any time.
The key to trading a melt up is to wait until MFI gets oversold then go heavy on calls. All cash. Hard to short a melt up. BTFD, lol.
Not chasing this market. Could dump again at any time.
The key to trading a melt up is to wait until MFI gets oversold then go heavy on calls. All cash. Hard to short a melt up. BTFD, lol.
Comment
Generally speaking, if the US market goes into a melt up and I feel bearish, I look towards foreign indices to short.Brazil appears to have turned around hard, could be a failed breakout.
Also, Korea and Japan are WAAAY overdone, looking at shorting next week.
Comment
That 9:54 failed pump was a huge futures buy. Not sure what the algos are doing buying when MFI is overbought, not typical behaviorComment
Note: I'm on Pacific time....Comment
Apparently a stimulus pump as Pelosi/Schumer tries to sell Mitch their 900B package. If Mitch plays hardball, the market will get a nice drop.If teh package goes through, expect a pump and dump.
Comment
Chinese market pumping, so that explains who was buying futures EOD.
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